While the city of New York is looking for ways to compensate for economic losses due to the coronavirus pandemic, developing companies agree that the establishment of a gambling facility is the way to go.
However, State Senator Joseph Addabbo, the chairman of committee on racing, gambling and wagering explained his position against building a casino on Times Square. According to him, casinos are established where there is an economic need for them. This is not the case for Times Square, which does not need a financial injection.
The state can only issue three new casino licenses in 2023 but the lawmakers are hoping that this can happen sooner for it will help with revenue and avoid raising taxes.
According to Senator Addabbo, this can happen by upgrading the two existing casinos in the area that have slot machines and electronic games to full-scale casinos with table games and dealers.
“We currently have two operating casinos in Yonkers and Queens, if they would be given full license it would create jobs and educational funding.” Said Sen. Addabbo
Many states in the US are fighting with the current economic crisis due to the pandemic. While New York considers establishing new casino to be the way to deal with financial loses, other states like Michigan and Georgia are legalizing online sports betting.
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